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Wednesday, February 20, 2013

Greece On Strike and Ready To Explode

Despite the fact that the media's attention had temporarily moved away from Greece over the past few weeks, the fundamental problems blighting the Greek economy (and by definition the Eurozone) have not gone away.

Today Greece is at a standstill as there is a general strike, called in protest against the ongoing austerity forced upon the people by the Eurozone and the criminal irresponsibility of earlier Greek administrations.

Reuters reports that 60,000 Greeks took to the streets of Athens today beating drums and chanting "Robbers, robbers!", they marched to parliament in the biggest anti-austerity protest so far this year.

Much of Greece has been brought to a standstill.

President Karolos Papoulias is quoted by Greek Reporter:

We are faced with a societal explosion if any more pressure is put on society.”
The tipping point will be when the government finally runs out of money, and is unable to pay the workers. That point is approaching fast, as local media reports that 2.5 million tax payers will be sent notices next month demanding overdue payments which indicates that tax revenues are falling far short of collection targets.

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